Beta Group
- Assets
- $157.6k
- Revenue
- $502.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Minneapolis, MN
- Founding
- 05/2016
- Data as of
- 12/2020
- EIN
- 81-2227583
Organization Overview
Beta Group is located in Minneapolis, MN. The organization was established in 2016. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Beta Group employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beta Group is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Beta Group generated $502.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 47.2% each year . All expenses for the organization totaled $500.9k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ACCELERATING THE SUCCESS OF MINNESOTA FOUNDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN CITIES STARTUP WEEK:A WEEK-LONG CONFERENCE ENTAILING MANY DIFFERENT STARTUP EDUCATION EVENTS.
BETA:PROGRAMS SPAN A WIDE RANGE OF EVENTS FOCUSED ON PROMOTING THE SUCCESS OF MINNESOTA BASED ENTREPRENEURS AS WELL AS A FREE STARTUP ACCELERATOR FOR EARLY STAGE FOUNDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Shultz Executive Director | OfficerTrustee | 40 | $93,381 |
Reed Robinson Executive Director | OfficerTrustee | 40 | $38,746 |
Allison Barmann Director | OfficerTrustee | 3 | $0 |
Ryan Broshar Board Chair | OfficerTrustee | 3 | $0 |
Nels Pederson Director | OfficerTrustee | 3 | $0 |
Clarence Bethea Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $466,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $466,567 |
| Total Program Service Revenue | $35,500 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $502,721 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,649 |
| Compensation of current officers, directors, key employees. | $36,468 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,946 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,116 |
| Payroll taxes | $14,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,156 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $134,143 |
| Advertising and promotion | $19,677 |
| Office expenses | $5,189 |
| Information technology | $23,224 |
| Royalties | $0 |
| Occupancy | $23,780 |
| Travel | $398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $135 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,390 |
| All other expenses | $0 |
| Total functional expenses | $500,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,595 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $157,595 |
| Accounts payable and accrued expenses | $1,459 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,459 |
| Net assets without donor restrictions | $156,136 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $157,595 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Beta Group has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Consortium Of Community Developers Minneapolis, MN | $14,565,346 | $14,747,823 |
Wisconsin Womens Business Initiative Corporation Milwaukee, WI | $42,014,379 | $10,583,804 |
Women Venture St Paul, MN | $7,708,341 | $8,474,014 |
Urban Ventures Leadership Foundation Minneapolis, MN | $23,559,763 | $6,521,879 |
Bioconnect Iowa Des Moines, IA | $1,127,931 | $1,803,790 |
Startingblock Madison Inc Madison, WI | $3,788,993 | $962,585 |
Lakota Fund Kyle, SD | $17,004,625 | $4,059,450 |
Central Minnesota Development Company Andover, MN | $3,109,444 | $999,166 |
Northeast South Dakota Economic Corporation Sisseton, SD | $28,795,164 | $2,763,514 |
Beta Group Minneapolis, MN | $157,595 | $502,721 |
Women In Progress Inc Minneapolis, MN | $458,547 | $441,350 |
Iowa Community Capital Boone, IA | $2,471,585 | $1,776,388 |